Restricted advice proving most attractive to younger generations

Restricted advice generate around one third of the sector’s income

Hope Coumbe
clock • 1 min read

The majority of 18-34 year olds find the restricted advice model more appealing than the independent one, according to The Lang Cat.

The consultancy's ‘The Advice Gap 2024' report – published today (3 July) – noted the industry had debated "various flavours" of the independent versus restricted debate "decades". Slightly over half of those aged 18-24 surveyed signalled restricted advice sounded more appealing than independent advice. Among respondents aged 25-34, more than 40% also pointed at restricted offerings as more appealing. Restricted advice firms currently make up around 10% of the market, but generate almost a third (32%) of the sector's overall income, the report estimated. The trend towards appeal...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

SFO secures six-figure confiscation order against Axiom Legal Financing fraudster

SFO secures six-figure confiscation order against Axiom Legal Financing fraudster

David Kennedy is currently serving an eight-year prison sentence

Sahar Nazir
clock 22 December 2025 • 1 min read
Private markets push meets adviser pragmatism: 'Real shift will come when advisers are empowered, not pressured'

Private markets push meets adviser pragmatism: 'Real shift will come when advisers are empowered, not pressured'

Higher proof-of-value demands and operational challenges keep private markets on margins of UK advice portfolios

Sahar Nazir
clock 19 December 2025 • 9 min read
Feel Good Friday: Tyndall Partnerships supports charity drive delivering Christmas aid to over 500 families

Feel Good Friday: Tyndall Partnerships supports charity drive delivering Christmas aid to over 500 families

Business development exec Lawrence Patrick joined charity The Mehiel Foundation

Professional Adviser
clock 19 December 2025 • 1 min read